Austral, NSW

DA approved residential development site

The Loan is secured by a first registered mortgage over three (3) adjoining residential allotments that combine to form a DA approved 6.07ha residential development site located in Austral, NSW, approximately 15km from the new Western Sydney International (Nancy-Bird Walton) Airport, (the first stage of which is due to open in 2026), 60km south west of the Sydney CBD and 15km west of Liverpool.

The property holds development approval with a neighbouring parcel of land (that is not security for this Loan). The DA specific to the Security Property relates to the construction of 136 residential lots, three (3) temporary drainage basin lots, three (3) residential lots that will form part of a boundary swap with the adjoining land owned by the same developer and eight (8) residue lots to be used as residue allotments, which will be developed in into eight (8) residential lots in due course.

The purpose of the Loan was to refinance a previous Balmain Discrete Mortgage Income Trusts (BDMIT) sub-trust known as the Fourth Avenue No. 2 Sub-Trust. The Borrower conducted the previous sub-trust in a prompt and punctual manner and in accordance with loan documentation.

The property is located within the Austral and Leppington North Precinct of the Western Sydney Priority Growth Area. The Austral area is being rapidly redeveloped into low and medium density residential housing as part of the Austral & Leppington North Precinct in the Western Sydney Priority Growth Area.

The Borrower Group is a substantial and successful residential land developer with over 25 years’ experience in land subdivisions in the western suburbs of Sydney. The Group has completed multiple residential subdivisions in and around Leppington and Austral, NSW

The Borrower Group is well known to the Manager who has provided multiple loans to the Group. All facilities have been conducted in a prompt and punctual manner.

• The Loan was advanced at a Loan to Value Ratio of 60%.
• The Target Return is 9.25% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
• The Loan is supported by an unlimited personal guarantee and a General Security Agreement over the Borrower.
• Interest for the initial 3 months of the Loan Term has been lodged on deposit with the Manager.
• The Manager has assessed the financial position of the Borrower and Guarantor and is satisfied that they are financially capable to service a loan of this nature.
• The Loan Term is 16 months, subject to early or late repayment, from 5 December 2024 to 4 April 2026.

Investment Details

• Target Return

  9.25% net

• Loan to Value Ratio

  60%

• Term

  19 Months

Full details, unique to each investment, are provided to Investors in a Supplementary PDS. These detailed Supplementary PDS’s are only available to Investors in Balmain Private.

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